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A PROMINENT Gold Coast developer says the next stage of his $140m Hope Island project will cushion the economic blow facing the city next year.

Strong sales from the first stage of No. 1 Grant Avenue complex have seen developer Aniko Group fast-track the next phase of the project, which will see 105 new units built Aniko boss George Mastrocostas said the development would boost the city’s economy as the federal government prepares to wind back its JobKeeper wage subsidy.

“The market has remained exceptionally strong despite COVID and we have great confidence to commence construction on Stage 2,” he said.

“While there will always be some uncertainty when looking to the future, we are confident in our product and didn’t want to delay the start of what will see the completion of our vision for No. 1 Grant Avenue.

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“With JobKeeper coming off, and many workers still feeling the pressure from the pandemic, we are in a position where we can provide direct and indirect employment for up to 400 tradespeople across the next 12 months.” Many of the units have already been sold, despite the project not yet officially being put to the market. Construction is expected to be completed by Christmas 2021.

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Originally published by Gold Coast Bulletin
Article by Andrew Potts, November 11, 2020